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(Alliance News) - Jubilee Metals Group PLC said on Friday it delivered another "exceptional" financial performance performance, posting strong production and earnings.
These results included both an unaudited operational statement for six months ended June 30 and operational results for the full financial year to June 30.
The London-based metals processing company said attributable operational earnings rose 36% to GBP40.1 million for the six-month period, compared to GBP31.2 million last year. For the full-year, combined attributable operational earnings jumped to GBP69.6 million from GBP25.1 million.
For the six months, revenue increased 46% to GBP75.6 million from GBP51.9 million in the prior year, while revenue grew sharply to GBP127.6 million for the full year from GBP54.8 million.
Jubilee said it had achieved its stated target of 50,162 platinum group metals ounces for the annual period, up 23% from 40,743 PGM ounces last year.
"Jubilee's operational growth continuous to exceed expectations despite the challenges of the prevailing Covid-19 pandemic and the significant expansion programme undertaken at both its PGM & chrome as well as copper business units," said Jubilee Chief Executive Leon Coetzer.
"The Jubilee team has yet again delivered another exceptional performance, where we have achieved growth in each of our core business units; PGMs and chrome and also generating maiden earnings from our new Zambian Copper portfolio," Coetzer said.
Zambia copper production contributed maiden earnings to the group. Project Roan's integrated copper concentrator is on track for commissioning by January, the company said.
The company said it has undertaken construction and commissioning phase, in particular at its PGM and chrome operations in South Africa.
"We have seen the commissioning of two new chrome beneficiation facilities, as well as commencing with the construction of the expanded PGM Inyoni operations," Coetzer said.
Shares in Jubilee climbed 5.0% to ZAR3.59 on Friday morning in Johannesburg. In London, shares were up 5.4% to 17.92 pence.
By Artwell Dlamini; artwelldlamini@alliancenews.com
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